Bitcoin and Ethereum posted their biggest weekly drop since the FTX collapse as heavy volume and liquidations pushed memecoins through support levels in a broader risk-off move.
Dogecoin and Shiba Inu were the weakest performers among major tokens as a broader cryptocurrency selloff deepened, with Bitcoin and Ethereum recording their biggest weekly decline since the FTX collapse and total market capitalization falling by $390 billion. Heavy trading volume and liquidations overwhelmed support levels in the memecoins, underscoring a wider risk-off shift across digital assets. The report says the renewed volatility may indicate investor attention is shifting away from cryptocurrencies, with losses in the two largest tokens often serving as a barometer for sector-wide risk appetite and weighing on smaller, more volatile assets.